Profit soars in Tech Data’s Q3

24 November 2004 – Clearwater (FL): Tech Data’s Q3 easily exceeded analyst expectations as profit rose 43 per cent thanks to strong sales in Europe and the Americas.

Earnings increased to $37.8 million, or EPS of $0.64, from $26.5 million, or EPS of $0.46, in last year’s Q3.

Sales went up 9 per cent to $4.77 billion from $4.4 billion in the same period last year. Of this, sales in Europe soared by 12.7 per cent while sales in the Americas rose by 3.9 per cent.

Analysts had expected sales of $4.73 and EPS of $0.55.

The company said it also expects Q4 results to exceed analyst expectations, and is predicting earnings of $42 million to $45 million on sales of $5.15 billion to $5.3 billion.